Key Votes
HR 4351 - Alternative Minimum Tax Adjustment Act - Key Vote
National Key Votes
Barbara Lee voted Yea (Passage) on this legislation.
Read recent statements Barbara Lee made in this general time period.
Stages
- Jan. 22, 2008 Senate Bill Sent To Committee
- Dec. 12, 2007 House Bill Passed
- Dec. 11, 2007 Introduced
Family
- HR 4351 - Alternative Minimum Tax Adjustment Act
- HR 325 - To Ensure the Complete and Timely Payment of the Obligations of the United States Government Until May 19, 2013
Issues
Stage Details
Legislation - Bill Sent To Committee (Senate) - Jan. 22, 2008
Legislation - Bill Passed (House) (226-193) - Dec. 12, 2007 (Key vote)
Title: Alternative Minimum Tax Adjustment Act
Vote to pass a bill that extends the alternative minimum tax credit and adjusts the repayment plan for nonqualified deferred compensation.
- Extends the alternative minimum tax limit for nonrefundable personal credits to 2007 and increases the amounts of exemption from $62,550 to $66,250 for joint tax returns and from $42,500 to $44,350 for individual tax returns (Secs. 101 & 102).
- Requires non-ascertainable income that is included in nonqualified deferred compensation to be taxed, when the amount can be determined, at a rate increased by the amount of interest at the underpayment rate, plus one percent on the underpayments, and an additional 20 percent of the amount of the compensation (Sec. 201).
- Requires nonqualified deferred compensation arrangements made before December 31, 2007, to be amended in a limited time to comply with the distribution date of the amounts to be included in income (Sec. 201).
- Defers treating domestic corporations that are part of a worldwide affiliated group as an individual corporation for income tax purposes until December 31, 2017 (Sec. 221).
Legislation - Introduced (House) - Dec. 11, 2007
Title: Alternative Minimum Tax Adjustment Act
